Warehousing is an important part of a fundamental logistic process that includes activities related to supply management, or the arrangement of inlet and outlet, or the inflow and outflow of commodities within an organization. One branch of the general theory of logistics is warehousing logistics, which addresses issues with setting up a receiving, accounting, and stock placement system as well as warehouse organization. Transporting items from the producer to the final consumer requires warehousing, which is crucial to supply chain management.
According to SPER market research, ‘Vietnam Logistics and Warehousing Market Size- By Type, By Ownership, By End – Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Vietnam Freight and Logistics Market is predicted to reach USD XX billion by 2032 with CAGR of 11.23%.
Due to Vietnam’s strong economic growth and its development as a manufacturing and export hub in Southeast Asia, which boosts trade volumes and calls for effective logistics services, the country’s freight and logistics sector is expanding significantly. Furthermore, the market is expanding due to the growing infrastructure development activities, such as port expansions and better transportation networks, which boost Vietnam’s logistics capabilities, lessen traffic jams, and increase the effectiveness of products movement overall. In addition, the e-commerce industry’s explosive growth and the rise in cross-border trade have increased need for efficient and affordable freight logistics solutions to satisfy the demands of international supply chains and online merchants, thus fostering market expansion.
Numerous obstacles affect the logistics and warehousing business in Vietnam, hindering its expansion and long-term viability. First and foremost, infrastructure constraints are a major barrier. Vietnam’s transportation network, which consists of roads, railroads, and ports, needs to be improved even more in order to satisfy the expanding needs of the logistics industry, even with ongoing advancements. Congestion, delays, and higher operating costs are all consequences of inadequate infrastructure for logistics companies. In addition, Vietnam’s logistics and storage industry is beset by a shortage of competent professionals and skilled workers. Workers with experience in inventory control, technological integration, and supply chain management are in high demand in this field.
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Impact of COVID-19 on Vietnam Freight and Logistics Market
The logistics and warehousing market in Vietnam has been greatly impacted by the COVID-19 outbreak. First of all, the movement of commodities and raw materials has been impeded by interruptions to the global supply chain brought on by travel restrictions and lockdown measures. The overall efficacy of logistics operations has been impacted by delays and higher transportation costs as a result of the restricted availability of international shipping services and limited air cargo capacity. The global COVID-19 pandemic had a significant impact on logistics operations by 2020, despite efforts by governments to preserve the supply chain and prioritize the free flow of commodities. The entire operation is paralyzed as a result of disease control measures and the requirement for many workers in this industry to remain at home.
Vietnam Logistics and Warehousing Market Key Players:
Vietnam has successfully manage to use East-West trade routes to ship the majority of their commodities to Europe and the United States thus far. Nonetheless, the rise of intra-Asian commerce has been a trend in recent years. Large-scale, contemporary container ports are currently being built by China, Japan, and South Korea and other Asia-Pacific nations, and these nations are spending billions of dollars to update their logistical networks to keep up with demand. Additionally, some of the market key players are Bac Ky Logistics Vietnam, Damco Vietnam, Kerry Logistics Vietnam, Nippon Express Vietnam, Noi Bai Cargo Terminal Services, Sea and Air Freight International, Sotrans Vietnam, Transimex Saigon Corporation, Vinafco, Vinalink Logistics and various others.
Vietnam Freight and Logistics Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type: Based on the Type, Vietnam Warehousing Market is segmented as; Cold Storage Warehousing, General Warehousing, Others.
By Ownership: Based on the Ownership, Vietnam Warehousing Market is segmented as; Bonded Warehouses, Non-Bonded Warehouses, Others.
By End User: Based on the End User, Vietnam Warehousing Market is segmented as; Chemicals, Consumer Goods, Food and Beverage, Healthcare, Retail, Textile and Footwear, Wooden Products, Others.
By Region: This report also provides the data for key regional segments of Central Vietnam, North Vietnam, Southern Vietnam.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Sara Lopes, Business Consultant – U.S.A.
SPER Market Research